NSE All-Share Index dips 0.37%

Transactions on the Nigerian Stock Exchange (NSE) closed for the week on Friday on a negative trend with the All-Share Index dipping 0.37 per cent.

Our correspondent reports that the index shed 93.38 points or 0.37 per cent to close lower at 25,189.37, against 25,282.75 posted on Thursday.

In the same vein, the market capitalisation lost N33 billion or 0.38 per cent to close at N8.715 trillion compared with N8.748 trillion achieved on Thursday.

An analysis of the price movement indicated that 7UP recorded the highest loss to lead the laggards’ table, shedding N9.71 to close at N89.95 per share.

It was trailed by Nigerian Breweries which lost N3.89 to close at N120.11 and Presco dropped 38k to close at N46.70 per share.

ETI lost 28k to close at N7.10 and Union Bank of Nigeria depreciated by 25k to close at N4.75 per share.

Conversely, Unilever topped the gainers’ chart with a gain of N2.35 to close at N35.50 per share.

Stanbic IBTC added 97k to close at N20.47 and Dangote Sugar garnered 29k to close at N6.09 per share.

Air Service gained 19k to close at N4.10 and Okomu Oil increased by 11k to close at N47.39 per share.

In spite of the drop in market indices, the volume of shares traded closed higher with a total of 171.61 million shares worth N1.11 billion transacted in 2,846 deals.

It was reported that this was in contrast with a turnover of 147.89 million shares valued at N836.84 million traded in 2,578 deals on Thursday.

FCMB Group was the most active with an exchange of 35.51 million shares valued at N35.58 million.

Transcorp sold 33.27 million worth N31.84 million and Flourmill transacted 15.53 million shares worth N279.55 million.

Diamond Bank sold 14.37 million shares valued N12.79 million, while FBN Holdings achieved a turnover of 10.83 million worth N35.95 million.